The trend of strong increase and bright prospects_ XAU/USD
Updated
Hello everyone, today we will together analyze in detail the situation of the gold market today based on the monthly chart. This chart gives us a lot of important information about price trends and important technical signs to note. Let's explore with me!
It is known that on the monthly chart of gold (XAU/USD), we can see that the current gold price is trading at $ 2,434. Accordingly, the chart shows that a parallel channel increases gradually (indicated by two blue lines), lasting from 1180 to the present, showing a stable and strong growth trend.
Meanwhile, gold has undergone the accumulation period from 2011 to 2024, in which the price passes and creates important support and resistance levels.
In March 2024, the gold price made a strong breakthrough with a big price candle on the monthly chart, marking a major change in the trend.
Technically, EMA 34 (blue) at $ 2,012.954 and EMA 89 (purple) at $ 1.756.728 are acting as important support levels.
Gold prices are currently trading on both EMA lines, showing that the increase trend is still being maintained strongly.
In addition, the clear display chart of parallel channels increases gradually with high probability that the price will reach the top of this channel in the near future.
This is a sign that the long -term growth trend of gold is still very strong.
According to the theory of Elliott wave, gold is starting to conquer the pulse wave (wave 3), usually the strongest wave and the potential to increase the price huge.
This sign strengthens the prediction of the strong growth of gold price in the near future.
Therefore, we have seen the return of big investors for gold in 2024, this will promote higher prices.
With large liquidity, big investors will continue to buy gold in a strategic way, pushing prices to a higher level.
Based on the technical analysis and signals from the monthly chart, we can predict that gold price will continue to grow strongly in the coming years. Potential growth can reach 300% within 3 years, bringing gold price to the peak of the parallel channel gradually increasing.
If you are wondering between investing in gold or Bitcoin, gold may be a safer and more potential choice at this time. The stability and growth potential of gold will bring significant profits to investors in the near future.
Let me know your thoughts on this analysis in the comment section and do not forget to "watch" to update more interesting investment ideas. Trading is not difficult if you have a good coach! Thank you and wish you a successful transaction.
It is known that on the monthly chart of gold (XAU/USD), we can see that the current gold price is trading at $ 2,434. Accordingly, the chart shows that a parallel channel increases gradually (indicated by two blue lines), lasting from 1180 to the present, showing a stable and strong growth trend.
Meanwhile, gold has undergone the accumulation period from 2011 to 2024, in which the price passes and creates important support and resistance levels.
In March 2024, the gold price made a strong breakthrough with a big price candle on the monthly chart, marking a major change in the trend.
Technically, EMA 34 (blue) at $ 2,012.954 and EMA 89 (purple) at $ 1.756.728 are acting as important support levels.
Gold prices are currently trading on both EMA lines, showing that the increase trend is still being maintained strongly.
In addition, the clear display chart of parallel channels increases gradually with high probability that the price will reach the top of this channel in the near future.
This is a sign that the long -term growth trend of gold is still very strong.
According to the theory of Elliott wave, gold is starting to conquer the pulse wave (wave 3), usually the strongest wave and the potential to increase the price huge.
This sign strengthens the prediction of the strong growth of gold price in the near future.
Therefore, we have seen the return of big investors for gold in 2024, this will promote higher prices.
With large liquidity, big investors will continue to buy gold in a strategic way, pushing prices to a higher level.
Based on the technical analysis and signals from the monthly chart, we can predict that gold price will continue to grow strongly in the coming years. Potential growth can reach 300% within 3 years, bringing gold price to the peak of the parallel channel gradually increasing.
If you are wondering between investing in gold or Bitcoin, gold may be a safer and more potential choice at this time. The stability and growth potential of gold will bring significant profits to investors in the near future.
Let me know your thoughts on this analysis in the comment section and do not forget to "watch" to update more interesting investment ideas. Trading is not difficult if you have a good coach! Thank you and wish you a successful transaction.
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